UPDATE 1-Jana Partners urges Qualcomm to consider breakup

April 13, 2015 7:25 AM

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April 13 (Reuters) - Activist investor Jana Partners is asking Qualcomm Inc to consider spinning off its chip unit from its patent-licensing business to boost the chipmaker's sagging stock price, the Wall Street Journal reported, citing a quarterly letter that will be sent to Jana investors on Monday.

Jana, one of Qualcomm's largest shareholders, is also calling on the company to cut costs, accelerate stock buybacks and make changes to its executive pay structure, financial reporting and board of directors, the newspaper said. (on.wsj.com/1EsowPH)